The Crypto Daily – Movers and Shakers – September 26th, 2021

Bitcoin, BTC to USD, fell by 0.34% on Saturday. Following a 4.54% slide on Friday, Bitcoin ended the day at $42,714.0.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $42,986.9 before hitting reverse.

Falling short of the first major resistance level at $45,095, Bitcoin slid to a late morning intraday low $41,728.0.

Steering clear of the 38.2% FIB of $41,592 and the first major support level at $40,686, Bitcoin revisited $42,900 levels before easing back into the red.

The near-term bullish trend remained intact, in spite of the latest return to sub-$40,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Saturday.

Chainlink led the way, rallying by 5.43%, with Bitcoin Cash SV (0.64%), Cardano’s ADA (+1.00%), and Crypto.com Coin (+2.01%) also finding support on the day.

It was a bearish day for the rest of the majors, however.

Polkadot fell by 2.84% to lead the way down.

Binance Coin (-1.52%), Ethereum (-0.22%), Litecoin (-0.83%), and Ripple’s XRP (-0.53%) also joined Bitcoin in the red.

In the current week, the crypto total market rose to a Monday high $2,136bn before sliding to a Tuesday low $1,744bn. At the time of writing, the total market cap stood at $1,910bn.

Bitcoin’s dominance rose to a Monday high 42.97% before falling to a Friday low 40.99%. At the time of writing, Bitcoin’s dominance stood at 41.91%.

This Morning

At the time of writing, Bitcoin was down by 0.36% to $42,559.0. A mixed start to the day saw Bitcoin rise to an early morning high $42,767.0 before falling to a low $42,451.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a bearish start to the day.

At the time of writing, Bitcoin Cash SV was down by 2.47% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the $42,476 pivot to bring the first major resistance level at $43,225 into play.

Support from the broader market would be needed for Bitcoin to break out from Saturday’s high $42,986.8.

Barring a broad-based crypto rally, the first major resistance level would likely cap the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at $45,000 levels before any pullback. The second major resistance level sits at $43,735.

A fall back through the $42,476 pivot would bring the first major support level at $41,966 and the 38.2% FIB of $41,592 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$40,000. The second major support level at $41,218 should limit the downside.

This article was originally posted on FX Empire

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